Independent Bank Group Inc. (NASDAQ:IBTX) Vice Chairman Daniel W. Brooks sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $49.00, for a total transaction of $245,000.00. Following the completion of the transaction, the insider now owns 162,828 shares of the company’s stock, valued at $7,978,572. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Shares of Independent Bank Group Inc. (NASDAQ:IBTX) opened at 48.20 on Monday. The company has a market cap of $891.12 million, a P/E ratio of 18.07 and a beta of 1.26. The stock’s 50 day moving average is $44.94 and its 200-day moving average is $40.87. Independent Bank Group Inc. has a 12 month low of $25.50 and a 12 month high of $49.40.
Independent Bank Group (NASDAQ:IBTX) last released its quarterly earnings data on Monday, October 24th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.02. Independent Bank Group had a net margin of 22.20% and a return on equity of 8.23%. During the same quarter in the prior year, the firm earned $0.47 EPS. On average, equities analysts forecast that Independent Bank Group Inc. will post $2.87 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 18th. Stockholders of record on Monday, November 7th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, November 3rd. This is an increase from Independent Bank Group’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.83%. Independent Bank Group’s dividend payout ratio (DPR) is currently 11.99%.
IBTX has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of Independent Bank Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. Raymond James Financial Inc. started coverage on shares of Independent Bank Group in a report on Thursday, July 7th. They issued an “outperform” rating and a $44.00 price objective for the company. Keefe, Bruyette & Woods boosted their target price on shares of Independent Bank Group from $40.00 to $47.00 and gave the company a “market perform” rating in a research note on Wednesday, July 27th. Finally, Hovde Group boosted their target price on shares of Independent Bank Group from $43.00 to $45.50 and gave the company a “market perform” rating in a research note on Wednesday, July 27th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $44.36.
Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Independent Bank Group by 378.3% in the second quarter. BlackRock Inc. now owns 2,803 shares of the company’s stock worth $120,000 after buying an additional 2,217 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Independent Bank Group during the second quarter valued at $213,000. Parametric Portfolio Associates LLC purchased a new stake in shares of Independent Bank Group during the second quarter valued at $217,000. BlackRock Advisors LLC increased its stake in shares of Independent Bank Group by 87.6% in the second quarter. BlackRock Advisors LLC now owns 5,318 shares of the company’s stock valued at $228,000 after buying an additional 2,484 shares during the period. Finally, American International Group Inc. increased its stake in shares of Independent Bank Group by 12.6% in the second quarter. American International Group Inc. now owns 6,398 shares of the company’s stock valued at $275,000 after buying an additional 718 shares during the period. Hedge funds and other institutional investors own 33.91% of the company’s stock.
Independent Bank Group Company Profile